Mylan has plans to set up own pharmacy to sell EpiPen — 6 things to know
Canonsburg, Pa.-based Mylan wants to cut out local pharmacists and pharmaceutical chains to set up its own pharmacy and expand EpiPen sales, according to Bloomberg.
Here are six things to know:
1. Bloomberg News obtained documents regarding Mylan's plan through public records requests. The documents showed Mylan plans to set up a pharmacy to sell EpiPen directly to public places such as restaurants and sports venues.
2. At a September 2015 conference, Heather Bresch, CEO of Mylan, said the company planned to pursue new markets through public entity legislation allowing the company to sell its products to restaurants. She said "really anywhere you are congregating, there should be access to an EpiPen."
3. The pharmacy — Mylan Health Management — would solely provide EpiPens to entities, as opposed to individual consumers.
4. Michael Rea, CEO of Overland Park, Kansas-based Rx Savings Solutions, told Bloomberg Mylan could reap savings of $40 to $55 in pharmacy and distributor fees on each $600 EpiPen prescription.
5. The plan could be quite timely given Mylan's EpiPen's sales fell significantly in the third quarter last year. Mylan came under fire for its high list prices for EpiPen, which led to Congressional hearings and questions regarding the company's pricing practices.
6. Despite dwindling sales, Mylan said it would cut less than 10 percent of its employees in December 2016.
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